Saw this 4 days ago
UBS (UBSG.S), opens new tab is briefing senior staff that the need to examine moving its HQ from Switzerland has grown since the government proposed new capital rules, a source with knowledge of the matter said, while another pointed to London as a favourite alternative.
The Swiss government proposed reform measures in June that envisage that UBS – as Switzerland's sole remaining global bank with a balance sheet about double the size of the economy – should capitalise its foreign subsidiaries by 100% rather than 60% currently, to cover potential losses abroad.
Does anyone have any idea about the subject? This plus tariffs seems like a perfect storm cenario for Switzerland….doesnt look good
Edit: i meant that tariffs may weaken swiss economy, which in turn may seek to compensate this with higher taxes. This in turn may affect banking.
by ptinnl
8 comments
UBS doesnt sell goods, so no tariffs can apply here.
No ubs has local companies in US. They dont sell/import any goods from Switzerland
I doubt it would be a decisive factor. The main issue at the moment is that the government is proposing rules that UBS dislikes so they threaten to leave. Everything else is mostly pretext.
US buys less services from CH than CH buys from US. This is why services are never part of discussion
UBS is out of scope of tariffs same as JP Morgan
Tariffs are on goods, not services – UBS is not very affected by them.
How do you come to the conclusion that tariffs are a perfect scenario for this? We would like to understand how you get to that point. Thank you.
Why should we as swiss care at the end, ubs,novartis,roche,google. All expats. They shall find another job outside, so finally house prices might drop as well…so,whatever, might be better if all this happens…
No. The CEO recently confirmed they will not move.
Comments are closed.